Summary:

 Senate Bill 144 (SB 144):  This legislative act involves an appropriation of funds intended to support affordable housing initiatives in New Mexico.  

Legislation Overview:

 Senate Bill 144 (SB 144):  The act appropriates $500,000 from the general fund.  The funds are allocated to the Department of Finance and Administration.  The funds are specifically designated for the New Mexico Mortgage Finance Authority to implement the Affordable Housing Act.

The funds are available for expenditure starting in fiscal year 2026 and can be used in subsequent fiscal years.  Any funds that are unexpended or unencumbered by the end of a fiscal year will not revert to the general fund. This clause ensures that the allocated funds remain available for their intended purpose across multiple fiscal years if not immediately used.

Financial Impact: The allocation provides a significant financial resource aimed at bolstering affordable housing efforts, which could help alleviate housing shortages or improve housing affordability in New Mexico.  The Department of Finance and Administration, through the New Mexico Mortgage Finance Authority, will need to manage and oversee the appropriate use of these funds, ensuring they are utilized effectively to advance the objectives of the Affordable Housing Act.